CLEVELAND-CLIFFS INC. — Director's Dealing 2020

Jan 27, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CLEVELAND-CLIFFS INC. (CLF)
CIK: 0000764065
Period of Report: 2020-01-23

Reporting Person: Graham James D (EVP, Chief Legal Officer & Sec)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-01-23	Common Shares	A	37158	—	Acquired	281567.792	Direct
2020-01-23	Common Shares	F	19807	$7.45	Disposed	261760.792	Direct

Footnotes

F1: Reflects a payout of performance shares for the 2017-2019 performance period earned under the Issuer's 2015 Equity and Incentive Compensation Plan, as amended.

F2: Reflects the mandatory surrender of 12,522 shares underlying performance shares and 7,285 shares underlying restricted share units in payment of the related tax liability incurred on January 23, 2020.